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Strategy Adds Over 10K BTC to Its Bitcoin Treasury, Funded by New STRD Offering
Firm raises over $1 billion from high-yield preferred stock and share sales to expand record BTC holdings.
What to know:
- Strategy (MSTR) now holds 592,100 BTC, valued at approximately $63.3 billion, following its latest acquisition.
- Funding came from a $979.7 million STRD offering and ATM sales of STRK and STRF preferred shares.
In this article
Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR).
Strategy (MSTR), the largest corporate holder of bitcoin
, has expanded its holdings with a new 10,100 BTC purchase, mainly funded by proceeds from its latest preferred stock offering, STRD.STORY CONTINUES BELOW
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The acquisition brings Strategy’s total bitcoin holdings to 592,100 BTC, now valued at approximately $63.3 billion, based on a current market price of around $107,000 per bitcoin. The average purchase price of the company’s total BTC position now stands at $70,666.
To finance the purchase, Strategy recently completed its 10% Series A Perpetual Stride Preferred Stock (STRD) issuance. Targeted at long-term investors seeking high-yield, fixed-income opportunities, the offering consisted of 11.76 million shares and generated approximately $979.7 million in net proceeds after fees and expenses.
The BTC acquisition was funded through a combination of proceeds from the STRD issuance and an at-the-market (ATM) share sale program, which included sales of its other preferred stock classes, STRK and STRF.
MSTR shares are trading at 1.60%in pre-market hours, while bitcoin is holding near $107,000.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin and Strategy (MSTR).
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